The client
The client is a small Hampshire based building contractor undertaking domestic and commercial refurbishment and shopfitting. They had been a knightsure client since March 2009 as a result of our recommendation providing more suitable cover and at a competitive price. At the 2012 renewal, cover was placed with an alternative insurer providing cover more suited to the client needs following business changes.
The problem
In late 2012, a major fire occurred at a contract site and for which after forensic investigation, liability lay at the door of the client. The difficulty was that with an estimated cost of £350,000 and with the client’s renewal date less than 6 weeks away, substantial increases in premium were likely or potentially even a refusal to renew.
What we did
Discussions were held with the loss adjusters acting for both our client and the insurers of the damaged property. The amount of the estimate was challenged and subsequently reduced. The cause of the fire was also investigated and the fact that this was a completely fortuitous incident and their previously unblemished record meant that Knightsure were able to talk sensibly to the clients insurers to avoid being over penalised at renewal.
